Looking Up at Terminus
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Last evening we Terminus 200, where things are looking up. Late last week Terminus developer Cousins Properties announced it has formed a new joint venture with a Morgan Stanley Real Estate fund that's successfully recapitalized the 25-story, 564K SF tower at Peachtree and Piedmont. Cousins further strengthened Terminus 200?s financial position by restructuring its construction loan. These actions were key as the REIT completed negotiations with law firm Greenberg Traurig, which took the tower?s top five floors. The Greenberg deal and others had slowed as finances were worked out. ?We're confident this restructuring will lead to the announcement of additional leases in the coming weeks,? Cousins CEO Larry Gellerstedt says.